Iranian Rial Slides On Rumors Of CBI Governor Sacking

The value of the Iranian rial has fallen on the free market, following rumors on 20 January that the Governor of the Central Bank of Iran (CBI), Mahmoud Bahmani, was about to be dismissed for mismanaging last September’s currency crisis. This saw the rial lose some 40% of its value (MEES, 28 September 2012). Mr Bahmani reportedly offered to resign on that day following a non-binding ruling by a...